Archive for Shanghai Real Estate News

Some People won’t sell…

For some people it’s fear, for most it’s joy, the gov. people and developers coming in and offering to buy the property you hold of your hands.
They usually offer a little more until you refuse them a few times and they offer you a huge sum above market price for your pad.

This just happened to an old guy holding a smal 30 square meter one bedroom no kitchen place on Sinan Road that is supposed to become the next Xintiandi.
Negotiating for months the developers have gotten nowhere,
our Shanghainese hero has of yesterday been offered 35 Million Rmb for his 10 square meters of the new Xintiandi.

And I write about him here, because he refused this offer.

350k Rmb per square meters for his old run down “gongfang” that has already been abandoned by most of his neighbors wasn’t enough.
Yesterday, he told us, he’s holding out for 120 Million, and apparently they can offer him this or build the new paulaners around him.

:-)

Now, that would mean Real Estate prices have still some room to go, and that this elder citizen might be shanghai’s most shrewd negotiator in the property game.

Filed under: Developements, Rumors, Shanghai Real Estate News, Trends | , , , , , |6 Comments

Shanghai Holiday Property Fair nets 2.23 Billion Rmb in 4 Days

Shanghais Holiday property fair which was held for 4 days during the holiday has received downpayments for 1379 Apartments totaling a  transaction volume worth 2.23 Billion Rmb.

The average price per square meters of the “sold” properties was roughly 20′000 Rmb a significant rise to the 12000 Rmb average price of last years fair.

The fair who nets a commission on places sold, was also more successful than the may fair who sold 1103 Apartments.

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Shanghai’s Green Land Group buys Long Hua Road No 1960

Shanghai’s Green Land Group has undermined once again they are the kings of the cities real estate deals.
They have bought 1960 Long Hua Road (Xuhui District) lot for 7.245 Billion Rmb (27231 Rmb per sqm) more than double the current per square meter price of the area (average for apartments, not land).

The Area around 1960 Long Hua Road is under heavy construction and close to Xujiahui and the Huangpu River (the expo site is about 20 minutes away).

It’s a strategic water front area and reports hint that the group plans to built smaller apartments for the growing middle class in the city.

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New Record! Shanghai Shimao Sheshan Club sells Villa at 205 Million RMB

 


Shimao Sheshan Villa's

Shimao Sheshan Villa

Shanghai’s Sheshan Shimao Country Club Developement just broke the news that they completed the sale of two villa’s.
One of the two sets a new record as most expensive personal residence in China. It set it’s buyer back for a hefty 205 Million Rmb or about 30 Million US$. The other smaller unit sold also cost an impressive 155 Million Rmb.
Though these are china’s most expensive residences buy total price, it’s actually very “cheap” if you think about it in per square meter price.
The bigger unit is about 26400 Square meters large which  puts the per square meter price at only 7700 Rmb.
Now that’s a real bargain considering many of the downtowns luxury residences commanding as much as 120′000 per square meter.
Also, the latest statistics also report a 38% spike in transaction volume, though I doubt that’s the market recovering, I’m glad to have some good news in all this turmoil.
For luxury properties this number is actually even higher, 45% for the month and 72% ytd.  

Check out the official Shimao Sheshan Villa Website. 40 Acre Domiciles in Shanghai sound like a way to live!

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